The 2013 annual report for Golden Grains disclosed that 1 billion shares of comm

Question

The 2013 annual report for Golden Grains disclosed that 1 billion shares of common stock have been authorized. At the end of 2012, 765 million shares had been issued and the number of shares in treasury stock was 100 million. During 2013, the only common share transactions were that 15 million common shares were reissued from treasury and 21 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2013. (Enter your answers in millions.)

Explanation / Answer

Statement showing computations Particulars Issued Outstanding Treasury No of shares at end of 2012                     765,000,000.00            665,000,000.00                     100,000,000.00 Reissue of Treasury Stock              15,000,000.00                     (15,000,000.00) Purchase of Common Stock            (21,000,000.00)                       21,000,000.00 No of shares at end of 2013                     765,000,000.00            659,000,000.00                     106,000,000.00

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